Rockpoint Seeks CPUC Approval for Potential Future Control of California Gas Storage Assets

Rockpoint Gas Storage, Inc. Class A ( (TSE:RGSI) ) has issued an update.

Rockpoint Gas Storage Inc. has jointly filed an application with Brookfield Infrastructure Fund GP II and the owners of Wild Goose Storage and Lodi Gas Storage to the California Public Utilities Commission, seeking advance authorization for Rockpoint to potentially acquire a controlling interest in the two regulated California gas storage utilities at a future date. The move is designed to secure regulatory clearance ahead of any decision by Brookfield Infrastructure Fund II to exercise its contractual right, effective after October 15, 2026, to sell its 60% stakes in Wild Goose and Lodi to Rockpoint, preserving flexibility for a possible change of control that could expand Rockpoint’s U.S. footprint and influence in the California gas storage market, although no transaction is currently planned and the timing of any CPUC decision remains uncertain.

The most recent analyst rating on (TSE:RGSI) stock is a Hold with a C$29.00 price target. To see the full list of analyst forecasts on Rockpoint Gas Storage, Inc. Class A stock, see the TSE:RGSI Stock Forecast page.

More about Rockpoint Gas Storage, Inc. Class A

Rockpoint Gas Storage Inc. is the largest independent pure-play operator of natural gas storage facilities in North America, owning and operating six strategically located sites with approximately 280 billion cubic feet of working gas capacity. Its storage assets support reliable and stable natural gas supply across its service areas and are positioned to benefit from rising demand tied to LNG exports, gas-fired power generation for data centres, oil sands development and broader electrification, with the company focusing on customized storage solutions for customers from its Calgary, Alberta headquarters.

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